Bitcoin Forum

So whats up guys im the legendary noob rank. So i want to talk about how the exchanges all left in China. Its good because now the bitcoin price is not dependent on China so once it doe go back up it won't be reliant on China which is good. well my friends are nagging me ill talk in the comments there none stop spamming me

It's nice to see a newbie who is aware of the reality. Bitcoin is global and decentrealized. So it never needs a specific country for its price stability or wellness.

Without China, the way is looking good too.

that is a good argument. true when china prohibits the use of bitcoin then in the future global bitcoin price is not dependent on china decision. theoretically may be like that but in fact, the Chinese people will still use bitcoin, china will still affect the bitcoin price movement although it will not be too significant.

yup, once bitcoin price is no longer being depended on china, the price of bitcoin is less volatile upon major crash for something wrong with the chinese mining or trading. btw i know that the bitcoin allows freedom of speech which china bans (such as incident in 4th June 1989 people wanting real democracy but eventually killed by the government), that would be the reason they ban as well.

I heard china is now closed all their exchange and JP Morgan is strike again to continue criticize the bitcoin. These are some of the obtacles that bitcoin is currently facing to falldown we need continue monitor to ensure the stability of our bitcoin investment.

China has been the biggest role for world economy so when Bitcoin is embraced by corporations - China doubted what Bitcoin will bring to their economy so while constructing their guidelines and regulations regarding with blockchain technology they stopped the exchange in their country but the ban was lifted after a month. That moment, Bitcoin was actually crippled and slow, the graph was driven to bottom but the moment China lifted an exchange then Bitcoin also rising since many of the investors are Chinese.

China didn't ban crypto. They only banned exchanges. Any free man in china is allowed to use and trade crypto privately - which is also the way it was meant to be used. Exchanges are really only for speculation, and without them, bitcoin has a much stronger future.

When i heard first about the china banning the exchanges and ICO's one thing that is come to my mind and that is "Bitcoin doesn't care even if the china did a total ban to the currency" there is a lot of happenings when you check the history of bitcoin but it still survives. The ban impose by the Chinese government is beneficial to the bitcoin because it proves that it is not dependent in china and can stand without their support and now the price is bumping up the price speaks all.

That can be true or maybe not. Cryptocurrency there are not actually banned. Exchanges and ICOs there are prohibited by the Chinese government to operate. Chinese cryptocurrency holders are now migrated to the other foreign cryptocurrency exchanges which they can freely trade their cryptocurrencies. So i still believe that China can still affect cryptocurrency especially it's price because the flow of capital is not stopped. But their influence for cryptocurrency is already gone. Now Japan is already conquering the cryptocurrency market. They are now going for mining which is China dominated for the past few years.

China i think still have interest to cryptocurrency. There are rumors that they are going to issue license to all exchange there. So, ban of cryptocurrency there is not going to happen. But still there's a possibility.

China is just trying to hold a huge number of coins, they are not trading it externally but the still have miners in their country.

China prohibits encryption, Cryptocurrency is not actually banned. Exchange and ICO are banned from operating in the Chinese government. China's privacy agencies are now migrating to other foreign private security switches, they are free to trade their encrypted currency. So I still think that China will still affect the security of the password, especially because the capital flow did not stop, so the price is up. However, their influence on cryptography has vanished. Now Japan has conquered the invisible currency market. They are now on the mining industry that China has dominated over the past few years. But in fact the Chinese people will still use Bitcoin, China will still affect the bitter currency price trend, although not too much. :-* :-*

the china ban bitcoin because its not good in their country like in their business and they not good in online world ,i read some topic here in bitcoin related in bitcoin mining and all of source is china but its not go well i think that is a one reason why they left bitcoin because of that,i also read in bitcoin news that china have interested again in bitcoin

Bitcoin is no longer depend China. Bitcoin is a decentralised cryptocurrency,so there is no need to depend any country for it's price stability and welfare.This situation lead bitcoin into a pricefall for 3.63%.I think it would be a sudden reaction, i believe that bitcoin can overcome this situation immediately.

I have long forgotten China, 20% is not a problem for bitcoin.
even with that issue people are increasingly convinced that Bitcoin will continue to be popular.

It's a shock effect if you ask me and people panicked because of the news and how it made it look like china has power over btc. Now once that effect passed, we can see that you're right and that btc doesn't really rely on a single country for support. Even if china doesn't lift its ban, it won't make any significant difference anymore.

meh...
they never banned crypto, they never banned bitcoin, they never banned trading, they never even banned exchanges.
what they did was only two things:
- banned ICOs which we all know are fraudulent.
- closed the biggest exchanges which were working illegally and failed to comply with the regulation rules.

besides, price never relied on China in first place! they were, as they still are, a considerable force in the market but they are one of many. and that is because Chinese are good traders.

China doesn't own Bitcoin! Also, Bitcoin is not dependent on China. Now that Bitcoin is becoming more popular in the world, many people are now into it and investing on it. Wait for more years and I'm sure that China will remove their ban on Bitcoin. Aside from China, countries which does not accepts Bitcoin will eventually accept it.

Bitcoins are the decentralized currency and does not have any track on its transactions and also there will not be much effect even if china is banning all exchanges. Surely china has the largest population and also a good number of literate peoples but bitcoins does not care about them and instead keeps moving on. Bitcoin cannot stop for any particular country now and will be ahead on its path for success.

Bitcoins had some minor effect after the news about china banning cryptos but it does not matter much and bitcoins are now again back on its path to success giving us a clear message that bitcoins are strong enough now.

no i think it is a unfortunate for chinese peoples .and the other hand some banks trying to thread the governments that based wih crypto banned story with china for increase their profits that reduced with crypto transaction.and if china doesnt banned crypto i think btc will hit $10,000 before end of this year

First thing:
China NEVER banned crypto currencies.
Out of the 101 chinese bans only the last one was true and it was against ICOs not the cryptos that were involved in the ICO.

Secondary there was no real ban against exchanges just a set of regulations.The thing is that all exchanges operating in china or owned by chinese are so shady most of them won't be able ti comply and either run to singapore hk etc or close.

As for the price , again we never had any need for China.
China equals mining farm and fake exchanges but noting else no usage no users only speculation
And we don't need this.

I think its not good china banned crypto since chinese people is big market in the world. Means we lost market cap of crypto.
But now i said good because crypto can be exist without china.

the bitcoin have no basis on any country or any person , so i think it's difficult to change price by country or person for long time  

Yes we lost marketcap that's sure but this last time I was bored how they manipulated the market with all those news, so without them we can expect less volatility.

The price that we have right now is the price less China's bitcoins in circulation so once they go back into the trade we can expect a deep in the prices. Remember that China has most of the mining farm in the world and how much Bitcoin was removed from circulation since they was banned from trading to other countries?

It is true that the price that we are experiencing right now is not directly dependent to Chinese market but it will be affected thereafter.

Most of the cryptos lover now know the benefits in bitcoins and will never worry for any such news about china banning bitcoins. Instead even any such news now will boost up bitcoins. Bitcoins have reached our expectations and now is being on the way to huge success. Even some months before i too was imagining the future of bitcoins but now the future is clear and bright and each of the individuals who have invested in bitcoins will make a good profit in it by using good research.

China banning cryptos effected some bit to the price of bitcoins but suddenly bitcoins took a pump showing us that they won't stop for anyone. Country banning bitcoins dose'nt affect bitcoins instead the individual decisions do because it is completely in the hands of individual about using bitcoins.

yes its good that time we can buy low price bitcoin , and also we know no need spicel country for bitcoin , bitcoin price alowes incress with market condition

It's an indication that bitcoin can live without the support of the Chinese people and Government because large digital currency mining can be found in china and they hold the largest mining pool. it is a fact that china can't control everything most of them is the bitcoin which it must be free and out of the control of anyone who wants to try to manipulate this kind of currency. I'm happy that China bans the ICO and exchanges through out their country just proving to world that bitcoin still survives.

hhmmm .. it's true china few months ago affects the bitcoin price globally, maybe it's just old news that china can affects bitcoin’s value, and now bitcoin can recover without relying on china to raise the value, or it could be some ICO in china reopened

The power is really on the hands of the community which if theres a strong support then no matter how a certain country like China would ban Bitcoin wont really matter at all because we do know that they cant really stop bitcoin usage.It may affect the price which we did actually witness back in the past but the price didnt stop there which means we can really stand alone even without their support.Even they are a powerful country bitcoin can still stand on its own feet as long its being backed by lots of users of it.We can already presume a bright future on here.

The only ban in place in China is an ICO and a cryptoexchange ban. Every Chinese citizen is still free to mine and transact privately using any cryptocurrency. And China can still drastically affect the price of Bitcoin by completely banning it. This could lead to a severe fall in the value of Bitcoin, although I surmise that other miners around the world will attempt to quickly close the gap.

It would be a total shame if China bans all cryptocurrency usage, even privately. So many fascinating blockchain projects are backed by Chinese investment and to pull the plug would be to set blockchain adoption back by several years. Besides, with the ICO ban in place, so many interesting ideas for DApps in China may founder from an inability to raise funding.

I think the ban has been beneficial for cryptocurrencies, since it has helped generate controversy, which of course spreads awareness and bring more people into the cryptosphere. Besides, the Chinese ban is only temporary, i think. It will only be in place until they develop regulations around ICOs and exchanges so that the public is not scammed en masse. Right now, anyone in China is free to privately invest in ICOs, they just can't launch one in the country. Which means many other token sales around the world, like DreamTeam, AppCoins and Nucleus Vision are being driven by Chinese investors

this is help crypto  and bitcoin now No country can stop bitcoin or even make it under control

china make huge crash and biggest up

Maybe one of the other reasons china banned bitcoin was because the central government thought the market was made up of a majority of the  Chinese, now that bitcoin has got to such high prices it's almost justified that bitcoin wasn't driven by the Chinese only, maybe this could be used as a reason to lift the ban.

The more countries ban the bitcoin the more the bitcoin grab the attention of the mass. China in my opinion banned bitcoin because they do not wanted their mass to get in to bitcoin because then its own currency will be pushed down in the international market.

But they forgot that bitcoin is used internationally and one day it will replace all regular currencies in daily life buying and selling.

The trend now in the crypto seems to be like bitcoin being less and less used all over the world, giving space to the altcoins. I believe that China for having a country with more than 1 billion people, and a bitcoin having only 21 million coins (16M in circulation only) will open up a space for other altcoins to play their role not just as a payment method like bitcoin is. About the miners, I do not see future because POW might be extinct in some years from now.

I agree, it seems to me that China's ban, has affected only that attention to bitcoin has grown, and even the forbidden fruit is sweet

Hi,

Chinese bitcoiners represent quite a large part of the community.. but they don't need bitcoin to be legal in their country. Please, face it, currently, no country is indeed allowing bitcoin.. I mean there is nowhere (as far as I know) where you can do your daily shopping with bitcoin.

We need to develop such infrastructures by ourselves. And actually for the moment, banning or not isn't the real concern!  ;)